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Mortgage Rates

BUSINESS
March 7, 2013 | By E. Scott Reckard
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
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BUSINESS
March 20, 2012 | By E. Scott Reckard
Those 30-year fixed home loans that have rates starting with a "3" are getting harder to find. Bankrate 's running survey of average mortgage rates has edged into the 4%-plus range over the past week and was at 4.05% on Tuesday. It had spent more than three months in the once unimaginable range below 4%, Bankrate senior analyst Greg McBride said. "Last Wednesday, March 13, was the first time with a 4-handle since Dec. 2, 2011," he said in an email. Mortgage rates tend to follow the yield on the 10-year Treasury note, which after seesawing in the 2% range in February has jumped from 1.94% on March 6 to 2.37% on Tuesday.
BUSINESS
June 7, 2012 | By E. Scott Reckard
Mortgage rates fell to new lows for the sixth straight week, with lenders offering the 30-year fixed-rate loan at an average 3.67%, down from 3.75% a week ago, home finance giant Freddie Mac said. The 15-year fixed-rate loan averaged 2.94%, down from 2.97% last week, according to Freddie's latest weekly survey . Freddie Mac economist Frank Nothaft attributed the decline to reports showing weak growth in jobs and the economy. Those factors make inflation less likely and pressure central bankers to keep rates down.
BUSINESS
February 13, 2014 | By E. Scott Reckard
A five-week decline in fixed mortgage rates has ended, with Freddie Mac's survey showing the 30-year home loan averaged 4.28% early this week, up from 4.23% a week ago. The 15-year fixed-rate mortgage was unchanged at an average of 3.33%, Freddie Mac said Thursday in its weekly report on the terms that lenders are offering to highly creditworthy borrowers. Aside from a weak jobs report, which the market seemed to shrug off, there was little economic news early this week to influence rates, Freddie Mac chief economist Frank Nothaft noted in the finance company's report.
BUSINESS
May 10, 2012 | By E. Scott Reckard
Mortgage rates have descended further into record low territory for the second straight week, with the average for a 30-year, fixed-rate loan dropping to 3.83% from 3.84% last week, Freddie Mac said. The 15-year fixed loan also dipped to a record low, falling from 3.07% to 3.05%, according to  Freddie Mac's latest survey , released Thursday. Borrowers would have paid an average of 0.7% in upfront lender fees to obtain the fixed-rate loans. People with solid credit and incomes who shop around or who pay additional discount points to lenders often can obtain slightly better rates than those quoted by Freddie Mac. Adjustable loans were mixed.
BUSINESS
October 3, 2013 | By E. Scott Reckard
Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June. But what good is a low rate if a lender can't process your application? A protracted government shutdown would hamper the ability of lenders to confirm borrowers' incomes and identities, as well as threatening loans that are backed by agencies such as the Federal Housing Administration. “The federal government shutdown will have a growing impact on the housing market the longer it continues,” David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement Thursday.
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